• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 6, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

JUST-IN: US, Nigeria Sign Agreement To Return $23m Abacha Loot

by Kunle Olasanmi
3 years ago
in News
Abach
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government of Nigeria has signed an agreement with the United States of America on the return of Mecosta/Sani Mohammed assets, otherwise referred to as General Sani Abacha.

 

Advertisement

 

The Attorney-general of the Federation and Minister of Justice, Abubakar Malami, SAN, who signed the agreement on behalf of the federal government, said the money was part of the looted stolen funds traced to former Military President, Sani Abacha.

Part of the Abacha loot to be returned to the Nigeria, according to the US government is $23,439,724.

The United States was represented at the signing ceremony by its Ambassador to Nigeria, Ambassador Mary Leonard.

RELATED

Why Nigeria Health Survey Is Essential  – NPC

No Nation Can Make Meaningful Progress Without Reliable Data — NPC

6 minutes ago
BBNaija10: Drama As Big Soso Fights Ivatar For Age-shaming Joanna

BBNaija10: Drama As Big Soso Fights Ivatar For Age-shaming Joanna

21 minutes ago

Malami disclosed that both countries arrived at the decision after many negotiation meetings between the representatives of the Federal Republic of Nigeria, United States Department of Justice (USDOJ) and the UK National Crime Agency (NCA).

The AGF expressed his gratitude towards the efforts of the Governments of the United States and the United Kingdom in ensuring that looted funds recovered are returned to Nigeria not only in this instant case but in other pending cases such as Bayelsa, Galactica, Blue Trust and Saborne assets.

Malami recalled that since 2016, the FMOJ, the UK NCA and the USDOJ have been working closely with the legal representatives of the Federal Government to finalise litigations related to Abacha-linked assets.

“Further to the agreement between the parties, the UK High Court granted the NCA a Registration and Recovery Order, dated 28 July 2021 and sealed by the Court on 4th August 2021” the AGF said.

Malami disclosed that the forfeited Mecosta/Sani assets were subsequently transferred to the National Crime Agency, which on February 7, 2022, held the sum of $23,439,724 pending the execution of the asset return agreement agreed between Nigeria and the USA.

Following the court order, Malami said the Federal Government and the USA have negotiated and finalised the terms of the asset return agreement.

“It is worthy to note that in line with the terms of this Agreement, Mr President has already approved the funds to be utilized for the on-going Presidential Development Infrastructural Funds (PIDF) projects namely; Abuja-Kano Road, Lagos-lbadan Express Way and the Second Niger Bridge under the supervision of Nigerian Sovereign Investment Authority (NSIA).

“The President’s mandate to my office is to ensure that all international recoveries are transparently invested and monitored by civil society organization to complete these three projects within the agreed timeline,” Malami stated.

The AGF, therefore, urged the Government of the United States not to relent in supporting Nigeria’s commitment to the speedy and transparent management of returned assets.

“As partners in the global effort fo promote an effective implementation of the United Nations Convention against Corruption, and against the background of constrained economic resources, I urge you to support us in meeting these critical priorities of the FRN by working with us to finish the projects already agreed under the 2020 Tripartite agreement among Nigeria, USA, and the Bailiwick of Jersey for the benefit of Nigeria and its citizens” Malami said.

On her part, the US representative said the US Department of Justice and the Federal Bureau of Investigation seized the funds in response to General Abacha and his associates’ violation of US laws when they laundered the assets through the US and into accounts in the United Kingdom.

“These actions were flagrant breach of the Nigerian people’s trust, but today is the result of an extensive and high level corporation between the US, the UK and the Federal Republic of Nigeria to make the Nigerian people whole.

“This agreement is also kind of collaboration that our government must continue in order to right the wrongs committed under the previous regimes, combined with a $311.7m seized and repatriated with the assistance of the Bailiwick of Jersey and the government of Nigeria in 2020.

“This repatriation brings to the total amount of funds repatriated in this case by the US to more than $334.7m. As a result of today’s agreement, $23m will be transferred to the Nigerian Government, which through the Nigerian Sovereign Investment Authority, NSIA, will use the funds to continue the construction of three key infrastructural projects located in strategic economic zones throughout the country- The 2nd Niger Bridge, Lagos-Ibadan Expressway and the Abuja-Kano Road,” she stated.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

6 Persons Die In Ondo Accident

Next Post

UniAbuja ASUU Challenges Federal Govt To Mention Actions Taken To End Strike

Kunle Olasanmi

Kunle Olasanmi

You May Like

Why Nigeria Health Survey Is Essential  – NPC
News

No Nation Can Make Meaningful Progress Without Reliable Data — NPC

2025/08/06
BBNaija10: Drama As Big Soso Fights Ivatar For Age-shaming Joanna
Entertainment

BBNaija10: Drama As Big Soso Fights Ivatar For Age-shaming Joanna

2025/08/06
Flight Disruptions: NCAA Threatens To Sanction EgyptAir, NG Eagle
News

ValueJet Breaks Silence After NCAA Suspended 2 Pilots Over Abuja Incident

2025/08/06
‘Obi’s 6m Votes Will Vanish If He Joins Atiku’, Says Tinubu’s Minister
News

Aviation Workers Protest Plan To Concession Port Harcourt Airport

2025/08/06
Diddy Apologises Over Leaked Video Of Assault On Cassie
Entertainment

Diddy Seeks Trump’s Pardon Ahead Of October Sentencing — Lawyer

2025/08/06
edo
News

1 Dies In Edo Cult Initiation Ritual

2025/08/06
Leadership Conference advertisement

LATEST

No Nation Can Make Meaningful Progress Without Reliable Data — NPC

BBNaija10: Drama As Big Soso Fights Ivatar For Age-shaming Joanna

ValueJet Breaks Silence After NCAA Suspended 2 Pilots Over Abuja Incident

Aviation Workers Protest Plan To Concession Port Harcourt Airport

Diddy Seeks Trump’s Pardon Ahead Of October Sentencing — Lawyer

EFCC Arrests 14 Cyber Criminals In Akwa Ibom

1 Dies In Edo Cult Initiation Ritual

Invest In Cross River, Gov Otu Charges Diasporans

Tinubu Congratulates Nafisa, Rukayya, Hadiza on Global Education Triumph

Germany Expands Schengen Visa Centres In Nigeria, Cameroon, Cyprus

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.